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House Price Crash Forum


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Posts posted by Martin_JD



    I think the point it this is usual ‘bait’ story from the media who just don’t give real detail. 

    The key is why was the offer withdrawn? The lender might be to blame but that depends....did the borrower lie, or did they change jobs from £50k to £20k and thought it didn’t matter, or did the lender just decide to withdraw and offer.

    The thing is with the media is that THAT is the actual story ie the reason for withdrawal....but wishy washy media like reporting with pictures of consumer victims (often pensioners who bought a yacht with equity release or list moneys in a pension invested in Sri Lankan recycling plant) and not asking the bleeding obvious question. 

    You may be right....this might just be a horrid lender which is really bad. But due to the way media report, we will never know 😉

    Yeah you are correct, this could just be sloppy journalism.  


    Everyone is still mostly blaming the victim. 

    The mortgage company can literally pull the mortgage at the last minute for no reason at all. 

    And the reason it's in the press is because the lenders are doing just that.

    Simultaneous exchange and completion is a nuisance. You don't know if you're moving today or not. But some solicitors like it because they don't trust mortgage companies. (And they want to see the money honey before they commit). 

    I feel sorry for the people. But the only person to blame is the lender. (They had a meeting and decided to reduce lending probably). 

    Spot on.  Really poor form from the lender, to say the least.



    Any half competent solicitor is going to make sure the mortgage offer is 110% sure.




    This is nothing to do with the competence of the solicitor.  The solicitors don't have a crystal ball - a client could have a full and valid mortgage offer, the problem is the lender can still pull the mortgage offer at the last moment, ie after exchange and before completion.


    Quite a scary prospect and hopefully very rare as it would be a life changing amount of money to lose if you find yourself in breech of contract after exchange.  


    Unsure. I only know about the house we're buying. The rest of the chain is a mystery.

    Exactly the same position here.  We've been ready to exchange for ages but the other end of the chain is a mystery.  Talk of exchange this week but im deeply sceptical as our chain has already broken down twice now.  This entire process of buying and selling houses is broken.   If ever there was an industry crying out for disruption, this is it.


    Is there a major incident report?

    Most shops are shifting to cloud hosting with a 1-4 hours RTO, if not hot failover. I appreciate that there is probably limited funds here, but even with the old school IT room approach you'd expect recovery within 12 hours.

    And the loss of posts - easily fixed.

    This feels like bargain bin, remote fixing from India, not too fussed about recovery point as long as its working again, territory.

    Like small shop IT from 40 years ago!

    What a cringe worthy post.  If anything is out of date here, it's your Alf Garnett take on India.  The engineers I work with based in India are just as on the ball as anyone in EMEA or North America.  


    Hmm, my feeling too. Makes me wonder why it's priced similarly to areas with less 'cachet'. Am I missing something?

    Not really - traditionally Botley has not had any cachet, it's not fashionable like east or north Oxford.  Good area though, relatively safe and still decent-ish prices for a 1930's semi.  The only issue is the botley road, in that traffic is bad, but you can easily cycle down it in 10 mins if you're working in town. 


    It is Invisionboard software.


    I think you can either get it as SaaS from a provider or buy and install. 

    Some plan example prices here which include server and traffic.


    Reasonably pricey.

    Perhaps  HPC should start accepting Brave rewards from the Brave Browser, might help pay for upgrades beyond ad revenue.

    cheers for the info.  that seems really expensive for what it is.  I pay 7 quid a month to host a forum.


    Interested in discussion or just trying to tell everyone prices are steady and all is good? 

    Ignore sentiment at your peril. It is very often irrational, counter initiative and unpredictable. The only thing of certainty is sentiment does change and the inefficiency of house buying means regardless of underlying trends (ie crash or rise) when sentiment falls those who have been buying in a frothy buoyant market with lots of viewing and offers about can be exposed.

    It’s not about money or investment but rather the difference between buying in a soft and a buoyant market can be 5/10 years working life. It’s also the difference between a good house and being able to afford a perfect house. 

    Already starting to see some wobbles in our area....and the odd example of some half decent value in anticipation of a potential difficult market (whether it becomes a difficult market or not).....that’s how sentiment works.

    Get on the wrong side of that sentiment and buy when 5 others want the house and it’s a lovely sunny month during pent up demand frOm lock down and it could be a costly mistake. 

    This is the type of silly non fact post that confuses people on here.  People on this website have been led by people like yourself to believe a house price crash is coming for the last 15 years.  The fact is this house price crash hasn't happened, and anyone waiting for it will of missed the boat by now.  


    sentiment is the thing, the inevitable crushing dragging weight of negative sentiment, it’s coming for the spivs and BTL morons, tears before bedtime is on the way.  What’s that noise you will hear them cry as they start to hear them mournful weeping of the newly poor.  

    Sentiment?  hehe.  We are in the middle of a global pandemic, the likes of which no one has seen before in living memory.  We are also about to leave the EU, perhaps without a deal.  And yet....  And yet...  We have seen prices boom.  Given that we're on the verge of getting "brexit done" one way or the other, and the fact that we have a vaccination on the way, i see no reason for a change in sentiment.  


    And probably not as many pilots as say, teachers or nurses or police officers so basically negligible. Seems realistically, not much impact on house prices even by June July next year if that . Not looking for a crash. Just a 15-20% decline would do nicely. 

    The most likely outcome will be stagnation.  There will certainly be no crash while interest rates remain low and demand outstrips supply for quality housing stock.  


    To be honest it should Start to sink into the psyche that housing benefit is going down, public sector wages are going down, unemployment is going up, tax will have to go up.  So all of this should cause the economy to slow and house prices to go down.  Watch this space.

    The housing market is reasonably unaffected by raising unemployment, mainly due to the fact that most unemployed people are in low paid service industries and as such will not have been in a position to buy a house anyway


    im 50 and the only time i ever worked for someone was 6 months gutting fish in a factory, which was actually a semi self employed role. ive found the road to job self sufficiency is rocky has more ups and downs but ultimatly in the end you do find something that is then way better than a corporate drone you just gotta not give up. it can take your 3rd or 4th buisness before you hit the sweet spot, maybe perhaps the failed ones or poor paying ones before you get there are equivelent to climbing the greasy pole in a big corp or public sector job.

    Eventually you hit on something that pays decent and then you have 2 choices, you stay contented in this job or buisness with a comfortable living and carry on to retirement, this route probably taking by 90% of the self employed. or you start pushing either the buisness or into others looking to further improve your living.

    either way the key is to not give up which is actually what most do and go back to being a wage slave. keep trying, keep learning and keep saving as your gonna need that money for the hard times or to try something new. and you will eventually get there. and when you get there it makes all the hard times getting there worth it.  

    The employed dont really understand the career path of the permanently self employed, they just see themselves as often better off than most of them or they feel derision for them. or they look at how well they are doing with often envy and often jealouy. they also look at most self employed people as working class and even uneducated, and many are because they were never giving the chances that the middle classes were and had to make their own luck no uni education or parent hand out for them.

    im as i say now 50, i only work 6 months a year and earn over the average wage. its nice being your own boss and now i get to wave the neighbours in the corporate jobs off to work. so stick to it because it will work out 

    Interesting,  what do you do for a living?


    It's an example. Settled snow will have the same effect/severity whether it falls at Dubai Airport, Heathrow Airport or Moscow Airport (once it has settled, it needs to be cleared regardless of how deep it is). However, because the frequency is so different for each place (Dubai - 1 day per 100 years, London - 1 day per 2 years, Moscow - 30 days per year) the powers that be have to decide whether the mitigations are worth it.   

    ...And the mitigations are going to depend on the frequency of the event, obviously.  

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